Press Release | Renew, Reskill, Redeploy: ManpowerGroup Releases New Research on the Impact of COVID-19 on Digitization and Skills at the Virtual #DavosAgenda
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Reinforcing its Commitment to Innovative Solutions to Enable People and Companies Adapt for the New Reality
KUALA LUMPUR, Jan. 25, 2021 – The COVID-19 pandemic has led companies to rapidly accelerate digitization plans, according to new ManpowerGroup (NYSE: MAN) research released this week at World Economic Forum’s #DavosAgenda.
The survey of 26,000+ employers in more than 25 countries finds those companies that are digitizing most are creating the most jobs.
Organizations are accelerating their digitization as a result of the pandemic – 38% are speeding up, while just 17% have put plans on hold.
At the same time, more jobs are being created than destroyed – 86% of employers that are digitizing plan to increase or maintain their headcount, compared to just 11% of employers who plan to reduce or hold their automation plans.
Download the research here:
“Our research reinforces that digital transformation is occurring at an unprecedented pace – creating jobs and driving sweeping change with the potential to improve people’s lives and create a more connected world.” Said Jonas Prising, ManpowerGroup Chairman & CEO.
“Today tech breakthroughs are driving mass vaccination programs, workforce transformation and flexibility, plus a call for a better work-life blend, more upskilling and greater autonomy over how, when, and where work gets done. One year into the pandemic though, we are seeing the emergence of a K-shaped recovery. Some industries and people are bouncing back faster and better – those in growth sectors and those with high-demand skills – while others are at risk of falling further behind. Helping people to pre-skill, upskill and reskill for in-demand roles in this Skills Revolution remains the defining challenge of this decade. At the #DavosAgenda this week we look forward to identifying shared solutions and accelerating action to enable everyone to unleash their full human potential and have a more equitable share of the prosperity.”
In mid-March, the Movement Control Order (MCO) are imposed in Malaysia to flatten the Covid-19 curve forced SMEs to embrace digitalization and go online, to cope with office closures, restricted movement, and supply interruption.
Looking to survive in the challenging business environment many SMEs discarded any apprehensions they had about digital by swiftly applying e-Commerce, O2O (online to offline), food delivery, and e-wallets into their business.
Malaysia Digital Economy Corporation (MDEC) had put a system in place to enhance the digital skills of Malaysians to empower local businesses to go digital.
Raymond Siva, the chief marketing officer in MDEC said the #SayaDigital initiative is about getting various sectors ready to embrace the new normal and overcome the challenges it has created.
He said there are no requirements to join #SayaDigital, just the desire to learn more about going digital.
“Our capacity-building measures are aimed at all Malaysians, whether they are small business owners or part of the workforce looking to upskill themselves, even young people who are just entering the workforce.
Key Findings:
The impact of the pandemic on digitization differs significantly around the world: Employers in Germany, Austria, Japan, and Italy report automation has accelerated most as the result of COVID-19 while those in the U.S., France and the U.K. are least likely to have sped up digitization.
Larger organizations are digitizing and hiring most:Conversely, smaller organizations have been most impacted by the pandemic and are more likely to have put digitization plans on hold and reduced hiring plans.
HR bucks its own trend as it accelerates as a business priority: Companies are realizing HR is critical in helping people reskill and redeploy as digitization accelerates. Organizations that are automating most are also planning significant increases in HR headcount (net increase of +15%).
Soft skill training needs to play catch up: Soft skills including resilience, collaboration, creativity, and leadership are in increasing demand yet only one in five employers (19%) are investing in upskilling programs focusing on soft skills. Training is trending shorter too. Employers know people want more applicable, bite-size, curated content that is relevant to specific roles and functions.
COVID-19 has shifted in HR priorities for the long-term: HR leaders see employee health and wellbeing as the most important priority, with 63% set to put it top of their agenda for 2021 and beyond.
When skills needs are changing faster than ever, organizations need refreshed talent and workforce development strategies to attract, develop, engage and retain the best talent. Skills Revolution Reboot provides innovative solutions for the Skills Revolution and highlights ManpowerGroup’s offerings:
SkillsInSight™: ManpowerGroup’s proprietary assessment to help people identify their strengths and work preferences and help organizations to predict an individual’s likely fit for the role.
MyPath:helps progress talent from one role to the next, from declining industries to growth sectors, closing the skills gap, improving people’s employability, and helping to address the economic and social impact of the pandemic.
Experis Tech Academies: work with a broad range of clients, technical schools, and universities to design curriculum for learners that can be applied on the job even before the learning is complete.
ManpowerGroup executives Jonas Prising, Michelle Nettles, Tomas Chamorro-Premuzic, Francois Lancon, Harld Peters, and Becky Frankiewicz were leading and participating in discussions at virtual #DavosAgenda. Jonas had joined Angel Gurria, Secretary-General OECD in a virtual session on Skilling The Global Workforce, moderated by the BBC on January 28, 2021.
About ManpowerGroup®
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis ad Talent Solutions – creates substantial value for candidates and clients across more than 75 countries and territories and has done so for over 70 years. We are recognized consistently for our diversity - as a best place to work for Women, Inclusion, Equality, and Disability, and in 2020 ManpowerGroup was named one of the World's Most Ethical Companies for the eleventh year - all confirming our position as the brand of choice for in-demand talent. See how ManpowerGroup is powering the future of work: www.manpowergroup.com.